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With a projected CAGR of 5.7% from 2024–2031, the worldwide salmon market is expected to grow from an initial valuation of $50,170.10 million in 2023 to a whopping $76,145.23 million in 2031.
One typical definition of salmon is an oily fish that is high in protein and omega-3 fatty acids. While most Pacific salmon are captured in the wild, the vast majority of Atlantic salmon sold throughout the world are farmed. Many different kinds of salmon are available, including chinook, coho, pink, red, salmo salar, and silverbrite. Because of its many health benefits, including lowering the risk of heart disease, keeping the body mass index stable, and promoting healthy bone growth and development, the demand for salmon is skyrocketing around the world.
Factors driving up demand for salmon fish include increasing health consciousness, decreasing inactive lifestyle patterns, increasing obesity rates, and rising disposable income. Salmon is a popular ingredient in many recipes, including pasta, patties, burgers, and rice dishes, because consumers are increasingly looking for ways to increase the amount of protein in their diets. Smoked salmon, salmon oil, salmon spreads, frozen salmon, and canned salmon are just a few of the many varieties that producers have developed to meet the varied tastes of salmon eaters. With more people entering the workforce, there has been a meteoric rise in the demand for salmon in all its forms, including frozen and tinned. The rise of ready-to-eat food products is a direct result of people's hectic and fast-paced lifestyles.
In contrast to the promising markets in Asia-Pacific and Latin America, the United Nations reports that demand for salmon is declining in a number of European, American, and Japanese countries. Opportunities for expansion abound for companies in the worldwide salmon market, thanks to the increasing demand for the fish in developing regions such as Latin America and Asia-Pacific. An annual surplus of 6–7 percent of salmon supply may be easily absorbed by the market without causing price swings, according to a United Nations assessment. There has been a recent uptick in the demand for farmed salmon with environmental labels, and consumers are increasingly leaning toward purchasing seafood that is fresh from the ocean.
With Chile's aquaculture sector performance steadily rising over the previous few years, global production of farmed salmon reached a peak of 2.68 million metric tons in 2020. Because of this, the cultivation of salmon has expanded, with an emphasis on Atlantic salmon, which now accounts for around 74% of the world's total production. Chile, where a new regulatory framework is having an impact, is seeing the largest production growth, at about 14% from 2018 to 2019. In a similar vein, a chilly winter and fish health problems led to a small 5% increase in salmon harvests in Norway, the biggest producing nation in the world.
The increase in supplies also hasn't been enough to meet the world's demand for salmon. Traditional open net-pen aquaculture has been hindered by legislative hurdles and geographical limitations, making it difficult for producers to meet the ever-increasing global demand for salmon. But there are prospects to speed up production even more, such as growing investments in the Chinese market for salmon, as well as technical approaches like land-and offshore-based culture and genetically altered salmon.
There are major concerns over the sustainability of the current food supply in light of the increasing global demand for food. Reduced yield rates and increased competition for limited water and land make it difficult to increase output of food crops grown on land. Additionally, the goal of low-input aquaculture globally is to increase food production and economic diversification for salmon farmers. The inherent productivity of tiny ponds, reinforced with domestic vegetable wastes and composts, allows species like salmon to maintain their own populations and feed. Growing cereal grains and vegetables with salmon can have a special impact on both the economy and people's diets. The expansion of the salmon market is also supported by a number of technological, policy, ecological, and economic considerations, all of which will affect the amount of seafood that ends up in the world's food supply.
Nevertheless, the salmon market can be limited in its potential for future expansion due to a number of problems. One significant limitation limiting the market's expansion is the exposure of harsh practices on animal farms and in slaughterhouses. Additionally, there is a growing vegan population that is projected to expand globally. Veganism could be boosted by the educational campaigns run by non-governmental organizations (NGOs) like PETA (People for the Ethical Treatment of Animals) that focus on animal rights and welfare. Throughout the projected time frame, this poses a significant risk to the worldwide salmon industry.
Report Coverage
Global Salmon research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Salmon report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Salmon competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Salmon market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Salmon market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Salmon market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Blumar SA, Nordlaks, Nova Sea, Bakkafrost, SalMar ASA, Leroy Seafood Group ASA, Greig Seafood, Salmones Camanchaca, Mowi ASA, Cremaq Group ASA
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2031. INFINITIVE DATA EXPERT has segmented the global Salmon market based on the below-mentioned segments:
Global Salmon Market, By Type
Chinook Salmon
Coho Salmon
Pink Salmon
Red Salmon
Salmo Salar
Silverbrite Salmon
Global Salmon market, By Distribution channel
Retail stores
Hypermarket/Supermarket
Online sales channels
Global Salmon Market, By End product type
Fresh
Frozen
Canned
Others
Global Salmon market, Regional Analysis
One typical definition of salmon is an oily fish that is high in protein and omega-3 fatty acids. While most Pacific salmon are captured in the wild, the vast majority of Atlantic salmon sold throughout the world are farmed. Many different kinds of salmon are available, including chinook, coho, pink, red, salmo salar, and silverbrite. Because of its many health benefits, including lowering the risk of heart disease, keeping the body mass index stable, and promoting healthy bone growth and development, the demand for salmon is skyrocketing around the world.
Factors driving up demand for salmon fish include increasing health consciousness, decreasing inactive lifestyle patterns, increasing obesity rates, and rising disposable income. Salmon is a popular ingredient in many recipes, including pasta, patties, burgers, and rice dishes, because consumers are increasingly looking for ways to increase the amount of protein in their diets. Smoked salmon, salmon oil, salmon spreads, frozen salmon, and canned salmon are just a few of the many varieties that producers have developed to meet the varied tastes of salmon eaters. With more people entering the workforce, there has been a meteoric rise in the demand for salmon in all its forms, including frozen and tinned. The rise of ready-to-eat food products is a direct result of people's hectic and fast-paced lifestyles.
In contrast to the promising markets in Asia-Pacific and Latin America, the United Nations reports that demand for salmon is declining in a number of European, American, and Japanese countries. Opportunities for expansion abound for companies in the worldwide salmon market, thanks to the increasing demand for the fish in developing regions such as Latin America and Asia-Pacific. An annual surplus of 6–7 percent of salmon supply may be easily absorbed by the market without causing price swings, according to a United Nations assessment. There has been a recent uptick in the demand for farmed salmon with environmental labels, and consumers are increasingly leaning toward purchasing seafood that is fresh from the ocean.
With Chile's aquaculture sector performance steadily rising over the previous few years, global production of farmed salmon reached a peak of 2.68 million metric tons in 2020. Because of this, the cultivation of salmon has expanded, with an emphasis on Atlantic salmon, which now accounts for around 74% of the world's total production. Chile, where a new regulatory framework is having an impact, is seeing the largest production growth, at about 14% from 2018 to 2019. In a similar vein, a chilly winter and fish health problems led to a small 5% increase in salmon harvests in Norway, the biggest producing nation in the world.
The increase in supplies also hasn't been enough to meet the world's demand for salmon. Traditional open net-pen aquaculture has been hindered by legislative hurdles and geographical limitations, making it difficult for producers to meet the ever-increasing global demand for salmon. But there are prospects to speed up production even more, such as growing investments in the Chinese market for salmon, as well as technical approaches like land-and offshore-based culture and genetically altered salmon.
There are major concerns over the sustainability of the current food supply in light of the increasing global demand for food. Reduced yield rates and increased competition for limited water and land make it difficult to increase output of food crops grown on land. Additionally, the goal of low-input aquaculture globally is to increase food production and economic diversification for salmon farmers. The inherent productivity of tiny ponds, reinforced with domestic vegetable wastes and composts, allows species like salmon to maintain their own populations and feed. Growing cereal grains and vegetables with salmon can have a special impact on both the economy and people's diets. The expansion of the salmon market is also supported by a number of technological, policy, ecological, and economic considerations, all of which will affect the amount of seafood that ends up in the world's food supply.
Nevertheless, the salmon market can be limited in its potential for future expansion due to a number of problems. One significant limitation limiting the market's expansion is the exposure of harsh practices on animal farms and in slaughterhouses. Additionally, there is a growing vegan population that is projected to expand globally. Veganism could be boosted by the educational campaigns run by non-governmental organizations (NGOs) like PETA (People for the Ethical Treatment of Animals) that focus on animal rights and welfare. Throughout the projected time frame, this poses a significant risk to the worldwide salmon industry.
Report Coverage
Global Salmon research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Salmon report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Salmon competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Salmon market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2031 |
| Base Year | 2024 |
| Forecast Period | 2024-2031 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Blumar SA, Nordlaks, Nova Sea, Bakkafrost, SalMar ASA, Leroy Seafood Group ASA, Greig Seafood, Salmones Camanchaca, Mowi ASA, Cremaq Group ASA |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Salmon Market from 2021 to 2031.
- Market Forecast for Salmon Market from 2021 to 2031.
- Regional Market Share and Revenue from 2021 to 2031.
- Country Market share within region from 2021 to 2031.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Salmon competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Salmon
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Salmon market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Salmon market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Blumar SA, Nordlaks, Nova Sea, Bakkafrost, SalMar ASA, Leroy Seafood Group ASA, Greig Seafood, Salmones Camanchaca, Mowi ASA, Cremaq Group ASA
Primary Target Market
- Market Players of Salmon
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2031. INFINITIVE DATA EXPERT has segmented the global Salmon market based on the below-mentioned segments:
Global Salmon Market, By Type
Chinook Salmon
Coho Salmon
Pink Salmon
Red Salmon
Salmo Salar
Silverbrite Salmon
Global Salmon market, By Distribution channel
Retail stores
Hypermarket/Supermarket
Online sales channels
Global Salmon Market, By End product type
Fresh
Frozen
Canned
Others
Global Salmon market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
About This Research
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